Partnership losses

A Partnership can have a loss. However, apply the loss carry-over rules to each partner, and not to the partnership.

For example, when you complete your own income tax return, combine your share of the partnership non-capital losses with any other non-capital losses you have in the year. Apply this amount against your Income.

The loss carry-forward period is 20 years for non-capital losses, farming or fishing losses, restricted farming or fishing losses, and life insurer's Canadian life investment losses incurred.

For information about the loss carry-forward period for non-capital losses, go to Line 252 – Non-capital losses of other years.

Forms and publications

• Guide T4002, Business and Professional Income

Date modified:

2016-06-09